Round Rock Advisors LLC Raises Position in 3M Company (NYSE:MMM)

Round Rock Advisors LLC lifted its stake in 3M Company (NYSE:MMM) by 31.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,227 shares of the conglomerate’s stock after buying an additional 1,483 shares during the period. Round Rock Advisors LLC’s holdings in 3M were worth $914,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of 3M by 0.6% in the first quarter. Allworth Financial LP now owns 35,441 shares of the conglomerate’s stock worth $4,922,000 after buying an additional 197 shares during the period. Quotient Wealth Partners LLC lifted its stake in shares of 3M by 3.7% in the first quarter. Quotient Wealth Partners LLC now owns 3,875 shares of the conglomerate’s stock worth $569,000 after acquiring an additional 138 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of 3M by 55.4% in the first quarter. Axxcess Wealth Management LLC now owns 5,217 shares of the conglomerate’s stock worth $766,000 after acquiring an additional 1,859 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of 3M by 2.6% in the first quarter. Rehmann Capital Advisory Group now owns 3,272 shares of the conglomerate’s stock worth $481,000 after acquiring an additional 82 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in shares of 3M by 1.5% in the first quarter. Linden Thomas Advisory Services LLC now owns 11,052 shares of the conglomerate’s stock worth $1,623,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank Of Canada boosted their price target on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price target on 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research note on Friday, June 27th. Citigroup boosted their price target on 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, May 30th. Finally, Wells Fargo & Company upped their price objective on 3M from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M has an average rating of “Moderate Buy” and a consensus target price of $156.33.

3M Stock Performance

Shares of NYSE MMM opened at $156.06 on Thursday. The stock has a fifty day moving average price of $147.56 and a two-hundred day moving average price of $144.12. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66. The firm has a market cap of $83.99 billion, a P/E ratio of 19.70, a PEG ratio of 3.00 and a beta of 1.02. 3M Company has a 1 year low of $98.26 and a 1 year high of $156.65.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a return on equity of 96.19% and a net margin of 17.79%. Research analysts forecast that 3M Company will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.87%. 3M’s payout ratio is currently 36.87%.

Insider Buying and Selling at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, the executive vice president directly owned 31,372 shares of the company’s stock, valued at $4,654,663.64. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president directly owned 6,127 shares of the company’s stock, valued at approximately $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

3M Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.